Lincoln National Corp lifted its stake in shares of FedEx Co. (NYSE:FDX) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,502 shares of the shipping service provider’s stock after acquiring an additional 384 shares during the quarter. Lincoln National Corp’s holdings in FedEx were worth $2,238,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC lifted its position in FedEx by 980.7% during the 1st quarter. Lazard Asset Management LLC now owns 1,270,674 shares of the shipping service provider’s stock worth $360,921,000 after acquiring an additional 1,153,097 shares during the last quarter. FMR LLC increased its stake in shares of FedEx by 24.4% in the second quarter. FMR LLC now owns 4,561,732 shares of the shipping service provider’s stock worth $1,360,901,000 after purchasing an additional 895,454 shares during the period. Citigroup Inc. lifted its position in shares of FedEx by 10,682.3% during the 1st quarter. Citigroup Inc. now owns 394,404 shares of the shipping service provider’s stock worth $112,026,000 after purchasing an additional 398,131 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in FedEx by 100.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 766,348 shares of the shipping service provider’s stock valued at $228,625,000 after purchasing an additional 383,348 shares during the period. Finally, AQR Capital Management LLC grew its holdings in FedEx by 58.7% in the 1st quarter. AQR Capital Management LLC now owns 904,172 shares of the shipping service provider’s stock valued at $256,821,000 after buying an additional 334,501 shares during the last quarter. 72.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of FedEx stock opened at $223.73 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.51 and a quick ratio of 1.47. The firm has a 50 day simple moving average of $252.69 and a 200 day simple moving average of $280.28. FedEx Co. has a fifty-two week low of $216.34 and a fifty-two week high of $319.90. The firm has a market cap of $59.43 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.95 and a beta of 1.28.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Friday, September 3rd were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, September 2nd. This represents a $3.00 annualized dividend and a yield of 1.34%. FedEx’s dividend payout ratio is currently 16.51%.
Several research firms recently commented on FDX. Stifel Nicolaus cut their target price on shares of FedEx from $344.00 to $283.00 and set a “buy” rating for the company in a research note on Thursday, September 23rd. UBS Group set a $369.00 target price on FedEx in a research report on Wednesday, September 22nd. Wells Fargo & Company lowered their price target on shares of FedEx from $351.00 to $314.00 and set an “overweight” rating on the stock in a report on Wednesday, September 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of FedEx from $375.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, September 23rd. They noted that the move was a valuation call. Finally, Morgan Stanley decreased their target price on shares of FedEx from $270.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $315.13.
FedEx Company Profile
FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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